China State Shipbuilding set to propel euro wave

China State Shipbuilding makes its maiden voyage in the euro-denominated bond markets, at the forefront of what bankers believe will become a key theme in 2015.

China State Shipbuilding Corporation CSSC became the second Chinese borrower in as many weeks to raise euro-denominated funds on Wednesday in what may become a key trend in 2015.

The state-owned group opted for a credit-enhanced structure for its 500 million three-year Reg S deal, which was rated A1AA after securing an irrevocable standby letter of credit SBLC from Bank of China London. Pricing was fixed at 99.907% on a coupon of 1.7%...